Webster Financial Corporation $WBS Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System lessened its holdings in shares of Webster Financial Corporation (NYSE:WBS) by 5.1% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 249,961 shares of the financial services provider’s stock after selling 13,397 shares during the quarter. New York State Teachers Retirement System’s holdings in Webster Financial were worth $17,352,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. BOKF NA purchased a new stake in shares of Webster Financial in the third quarter valued at $26,000. Flagship Harbor Advisors LLC purchased a new position in Webster Financial during the fourth quarter worth about $28,000. Caitong International Asset Management Co. Ltd purchased a new position in Webster Financial during the third quarter worth about $29,000. Atlas Capital Advisors Inc. acquired a new stake in Webster Financial in the 4th quarter worth about $31,000. Finally, Wilmington Savings Fund Society FSB acquired a new stake in Webster Financial in the 3rd quarter worth about $33,000. Institutional investors and hedge funds own 85.58% of the company’s stock.

Analysts Set New Price Targets

WBS has been the subject of a number of research analyst reports. UBS Group assumed coverage on shares of Webster Financial in a research note on Tuesday, April 7th. They set a “neutral” rating and a $69.00 price objective for the company. Weiss Ratings reissued a “buy (b)” rating on shares of Webster Financial in a research report on Friday, June 12th. Finally, Keefe, Bruyette & Woods lowered their target price on shares of Webster Financial from $79.00 to $77.50 and set an “outperform” rating for the company in a report on Friday, May 1st. Four investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $73.96.

Webster Financial Stock Performance

Webster Financial stock opened at $76.72 on Friday. The company has a market cap of $12.43 billion, a price-to-earnings ratio of 12.56 and a beta of 1.00. Webster Financial Corporation has a 12 month low of $52.69 and a 12 month high of $77.33. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.87 and a quick ratio of 0.87. The stock’s 50-day moving average is $73.36 and its 200-day moving average is $70.09.

Webster Financial (NYSE:WBS) last issued its earnings results on Tuesday, April 28th. The financial services provider reported $1.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.53 by $0.04. The business had revenue of $764.05 million during the quarter, compared to analysts’ expectations of $735.26 million. Webster Financial had a return on equity of 11.31% and a net margin of 22.95%.The company’s revenue for the quarter was up 4.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.30 EPS. Equities analysts anticipate that Webster Financial Corporation will post 6.59 earnings per share for the current year.

Webster Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 21st. Shareholders of record on Monday, May 11th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date of this dividend was Monday, May 11th. Webster Financial’s payout ratio is 26.19%.

Webster Financial Company Profile

Webster Financial Corporation is a bank holding company headquartered in Waterbury, Connecticut. Through its principal subsidiary, Webster Bank, N.A., the company offers a broad range of banking products and financial services to individuals, small businesses, and middle-market commercial clients. Key offerings include deposit accounts, residential and commercial real estate lending, equipment finance, treasury management, and payment processing solutions.

In addition to traditional banking services, Webster Financial provides wealth management and insurance products designed to help clients plan for retirement, preserve assets, and manage risk.